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COUNCIL PRIORITY PROJECT FUNDING
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RECOMMENDATION
Discussion and possible action making priority project funding recommendations of up to $4,000,000 to the City Council.
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Summary
At the Council meeting on January 23, 2024, the City Council discussed Agenda Item 15.1 - Accept the Fiscal Year 2022-23 Fourth Quarter Budget Status Update, Authorize Budget Amendments, and Make Allocations to General Fund Reserve. As part of the resolution (Attachment A), the Council authorized the appropriation of $4,000,000 in Council priority projects and recommended the specific projects be determined by the Budget/Finance/Economic Development Committee. The committee will discuss the use of the $4,000,000. The Committee’s recommendation for use of the funds will go to the full City Council for consideration.
Present Situation
A best practice would be to use the Council priority funds on one-time expenses since the funds represent one-time savings. Any new spending with ongoing operating expenses would need to be worked into future budget appropriations.
Below is a list projects recommended for funding. The list included in the January 23, 2024 staff report was modified to reduce recommended funding for the Neighborhood Traffic Calming Project by $1,000,000 to keep the total recommendation within the available $4,000,000.
If additional projects are identified, staff recommends ranking or prioritizing the proposed projects to assist with facilitating the discussion and developing a recommendation for the full City Council.
Attachment A - Approved Resolution 2024-01-23-1501